Cliffs Natural Resources Inc. to Post Q3 2016 Earnings of $0.13 Per Share, FBR & Co Forecasts (CLF)
Cliffs Natural Resources Inc. (NYSE:CLF) – FBR & Co decreased their Q3 2016 earnings estimates for shares of Cliffs Natural Resources in a research note issued to investors on Thursday. FBR & Co analyst L. Pipes now forecasts that the brokerage will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.16. FBR & Co currently has a “Hold” rating and a $6.00 target price on the stock. FBR & Co also issued estimates for Cliffs Natural Resources’ FY2017 earnings at $0.24 EPS and FY2018 earnings at $0.10 EPS.
Several other research firms have also recently weighed in on CLF. Zacks Investment Research raised Cliffs Natural Resources from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Tuesday, July 12th. TheStreet raised Cliffs Natural Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. reissued a “buy” rating and set a $10.50 price target (up from $7.00) on shares of Cliffs Natural Resources in a research report on Tuesday, July 12th. Clarkson Capital raised Cliffs Natural Resources from a “sell” rating to a “neutral” rating in a research report on Monday, July 18th. Finally, Macquarie reduced their price target on Cliffs Natural Resources from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday, August 29th. Seven analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.78.
Shares of Cliffs Natural Resources (NYSE:CLF) opened at 5.34 on Monday. The stock’s 50 day moving average price is $5.77 and its 200 day moving average price is $5.29. The firm has a market cap of $981.87 million, a price-to-earnings ratio of 26.57 and a beta of 1.75. Cliffs Natural Resources has a one year low of $1.20 and a one year high of $8.45.
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Cliffs Natural Resources (NYSE:CLF) last announced its quarterly earnings data on Thursday, July 28th. The mining company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.00 by $0.07. The firm had revenue of $496 million for the quarter, compared to analyst estimates of $482.37 million. During the same period in the previous year, the business posted ($0.28) EPS. Cliffs Natural Resources’s revenue for the quarter was down .4% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Cliffs Natural Resources by 15.1% in the first quarter. BlackRock Inc. now owns 35,494 shares of the mining company’s stock worth $107,000 after buying an additional 4,666 shares during the period. Stifel Financial Corp raised its position in Cliffs Natural Resources by 20.8% in the second quarter. Stifel Financial Corp now owns 19,532 shares of the mining company’s stock worth $111,000 after buying an additional 3,360 shares during the period. Teacher Retirement System of Texas raised its position in Cliffs Natural Resources by 19.0% in the second quarter. Teacher Retirement System of Texas now owns 19,954 shares of the mining company’s stock worth $113,000 after buying an additional 3,189 shares during the period. LMR Partners LLP bought a new position in Cliffs Natural Resources during the second quarter worth approximately $114,000. Finally, Amalgamated Bank raised its position in Cliffs Natural Resources by 16.4% in the second quarter. Amalgamated Bank now owns 19,188 shares of the mining company’s stock worth $127,000 after buying an additional 2,710 shares during the period. Hedge funds and other institutional investors own 50.66% of the company’s stock.
Cliffs Natural Resources Company Profile
Cliffs Natural Resources Inc is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company’s segments include U.S. Iron Ore and Asia Pacific Iron Ore. The Company is a producer of iron ore pellets, primarily selling production from U.S.
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